The Depot and Petroleum Products Marketers Association of Nigeria has promised a continued support for government policies especially in its drive for price freedom in the downstream sector.
The group pledged its support when it met with the department of petroleum resources outlining the cardinal focus for downstream operations in Nigeria.
The downstream sector in Nigeria has been marred by series of challenges such as inappropriate product pricing, insecurity, irregular gas supply, pipeline vandalism amongst others.
These limitations have kept the sector from being abuzz with significant investments and activities despite being ranked as the 11th largest crude oil producer in the world.
This forms part of the discussion at this meeting between the department of petroleum resources and the Depot and Petroleum Products Marketers Association of Nigeria.
Speaking at the end of the meeting, the Chairman of DAPPMAN, Winifred Akpani commended the DPR for its robust regulatory initiatives in the oil and gas sector which has created the enabling environment for their businesses.
The director of the department of petroleum resources, Sarki Auwalu outlines the benefits of the removal of fuel subsidy as it enables free pricing for oil marketers in the sector
With the ministerial declaration of 2020 as the ‘Year of Gas’, creating a new world of alternative fuels and investment opportunities, oil marketters are urged to begin to avail themselves of these opportunities to enable value creation for investors and government.